• Future access for Australian financial services providers to the world's largest financial market is guaranteed.   In addition, the Agreement guarantees that any future US liberalisation in this sector cannot be reversed.
• Australia and the US have agreed to jointly consider ways to more closely integrate our two financial sectors.
• Australia's financial sector will reap the benefits associated with financing the increased trade in goods and services flowing from the Agreement.

Summary

The relatively few restrictions that apply to Australian access to the US financial services sector are now locked in and can not be expanded.

The Agreement establishes a joint Financial Services Committee (FSC) between Australia and the US to consider any issue referred to it by either party.

It has been agreed that the FSC will examine regulatory issues affecting access for Australian foreign securities trading screens and collective investment schemes to the US and report back to the AUSFTA Joint Committee.

Gains for Australia

Australia's financial sector, one of the most open and efficient in the world, is well placed to participate fully in supporting the increased trade in goods and services which flow from the closer integration of the US and Australian economies.

A dialogue aimed at strengthening cooperation on regulatory issues offers the prospect of Australian Stock Exchange trading screens being accessible in the US.